- X Money launched for US Premium and Premium+ users to enable in-app banking services
- Users get deposit accounts via Cross River Bank for payments, transfers, bills, and checks
- Virtual Visa debit card offers 3% cashback, no foreign fees, works with Apple Pay and Google Pay
X has rolled out X Money to Premium and Premium+ subscribers in the US, expanding Elon Musk's efforts to turn the social media platform into an "everything app." The feature began rolling out on July 27, following an earlier invite-only beta phase.
X Money allows subscribers to carry out everyday banking activities without leaving the app. Users receive a deposit account backed by Cross River Bank, enabling them to receive incoming payments, transfer money to other X users, pay bills, send wire transfers and deposit physical checks.
ALSO READ | What Is Elon Musk's Digital Payment Service 'X Money' And How Does It Work?
A virtual Visa debit card is issued automatically and works with both Apple Pay and Google Pay. Users can also order a physical metal card and choose whether to have their X handle printed on it. The card offers 3% cashback on qualifying purchases, carries no foreign transaction fees and is accepted anywhere Visa is supported globally.
Your money, on the world's most powerful network
— X Money (@XMoney) July 27, 2026
𝕏 Money is rolling out to U.S. Premium and Premium+ subscribers starting today pic.twitter.com/2c1UMkB4Kn
Features And Benefits
For now, X Money is available only to Premium and Premium+ subscribers in the US. Eligible users can earn up to 6% annual percentage yield (APY) by setting up qualifying direct deposits. Additional features include access to paychecks up to two days early, fee-free ATM withdrawals, and complimentary wire transfers and mailed checks.
According to X, accounts are protected using passkey authentication, while every payment requires an additional verification step. Card transactions are also covered by Visa's fraud protection and risk management systems.
Musk's Everything App Vision Faces Scrutiny
The launch of X Money aligns with Musk's long-standing ambition to transform X into a WeChat-style "everything app," where messaging, shopping and financial services operate within a single platform. In 2023, Musk told employees he wanted X to eventually support users' "entire financial life," extending well beyond peer-to-peer payments.
ALSO READ | Elon Musk Says X Money To Enter Early Public Access Next Month, Pushing 'Everything App' Vision
The expansion into financial services has also drawn scrutiny from US lawmakers. Senator Elizabeth Warren, the top Democrat on the Senate Banking Committee, wrote to Musk on April 14 seeking details on whether X was adequately prepared to handle financial services responsibly.
In her letter, Warren cited concerns over X's management and raised questions about potential risks to consumers, national security and the broader financial system.
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